I need 3 paragraphs for each discussion which is a total of 6 paragraphs for the part that requires paragraph. Please keep both separate and address each question. Please make sure you check grammar and punctuation errors, as well as quoting and using in text citations. PLEASE make sure you cite the information, do NOT plagiarize and ADD all references. No Cover Page Needed PLEASE INBOX ME IF YOU HAVE QUESTIONS *DUE WEDNESDAY FEB. 9, 2022 NO LATER THAN 6:00PM CENTRAL STANDARD TIME PLEASE SEE ATTACHMENTS and inbox me if you need reading material on the assignment Part 1 The Balance Sheet Referencing this week’s readings and lecture, what information is provided in the balance sheet? What is a common-sized balance sheet and how do you create one? For your final project company, does anything stand out on the balance sheet? Part 2 Understanding the Notes to the Balance Sheet Your friend, Liz, loves to shop at Target and is now interested in investing in the company. Tom, another friend, has told her that Target’s debt structure is risky with obligations of nearly 74% of total assets. Liz sees that debt on the balance sheet is 65% of total assets and is confused by Tom’s comment. Write an explanation to Liz discussing the debt structure of Target and why Tom thinks Target is risky. Be sure to explain clearly what information appears on financial statements, as well as what information does not appear directly on the financial statements. Use the information below in your discussion. At fiscal year-end February 2, 2008, Target Corporation had the following assets and liabilities on its balance sheet (in millions): Current liabilities $11,782 Long-term debt 15,126 Other liabilities 2,345 Total assets 44,560 Target reported the following information on leases in the notes to the financial statements: Total rent expense was $165 million in 2007, $158 million in 2006, and $154 million in 2005, including percentage rent expense of $5 million in 2007, 2006, and 2005. Most long-term leases include one or more options to renew, with renewal terms that can extend the lease term to more than 50 years. Certain leases also include options to purchase the leased property. Future minimum lease payments required under non-cancellable lease agreements existing at February 2, 2008, were: Future Minimum Lease Payments (in Millions) Operating Leases Capital Leases 2008 $ 239 $ 12 2009 187 16 2010 173 16 2011 129 16 2010 123 17 After 2010 2, 843 155 Total future minimum lease payments $3694 (a) $232 Less: Interest (b) (105) Present value of minimum capital lease payments $127 (c) (a) Total contractual lease payments include $1,721 million related to options to extend lease terms that are reasonably assured of being exercised, and also include $98 million of legally binding minimum lease payments for stores that will open in 2008 or later. (b) Calculated using the interest rate at inception of each lease. (c) Includes current portion ...